Force Sensor Global Market Report 2024

A force sensor serves as a transducer that converts mechanical forces, such as loads, weights, tension, compression, or pressure, into an electrical output signal. This electrical signal is measurable, convertible, and can be standardized, showing a proportional variation corresponding to the applied force on the force sensor.

The primary force sensor categories encompass tension force sensors, compression force sensors, and tension and compression force sensors. Tension force sensors are employed to measure pulling or tension forces applied to an object. They find applications in detecting forces acting on rollers due to material tension in tensile testing, materials research, measuring tension in ropes and wires, suspended hopper weighing, and aerospace process monitoring. Various technologies, including strain gauges, load cells, force-sensitive resistors, and others, operate in analog and digital modes. These technologies are utilized across diverse industries such as healthcare, industrial manufacturing, automotive, aerospace and defense, consumer electronics, and others.

The force sensor market research report is one of a series of new reports from The Business Research Company that provides force sensor market statistics, including force sensor industry global market size, regional shares, competitors with a force sensor market share, detailed force sensor market segments, market trends and opportunities, and any further data you may need to thrive in the force sensor industry. This force sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The force sensor market size has grown strongly in recent years. It will grow from $2.34 billion in 2023 to $2.49 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The expansion observed in the historical period can be ascribed to the growth of industrial automation, the miniaturization of consumer electronics, advancements in automotive safety systems, the development of healthcare instrumentation, and the increasing prominence of human-machine interfaces.

The force sensor market size is expected to see strong growth in the next few years. It will grow to $3.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The anticipated growth in the forecast period can be linked to the integration of the Internet of Things (IoT), the expansion of robotic applications, the introduction of flexible and stretchable sensors, the proliferation of smart home devices, the adoption of force sensing technology in smartphones, and the increasing demand for advanced driver assistance systems. Noteworthy trends expected in the forecast period encompass advancements in material sciences, heightened utilization in gaming and entertainment, the incorporation of virtual reality (VR) and augmented reality (AR), the integration of artificial intelligence, and the implementation of machine learning.

The projected growth of the force sensor market is expected to be driven by the increasing demand for industrial robots. Industrial robots, mechanical devices designed for automated production tasks in industrial settings, benefit from force sensors that enhance their control technologies, providing haptic input to improve overall performance. This functionality includes validating grip pressures, ensuring proper balance, and providing tactile information to external sources. For example, in May 2023, the International Federation of Robotics reported a 12% increase in the installations of industrial robots in manufacturing, reaching 41,624 units in North America in 2022 compared to 2021. Consequently, the adoption of industrial robots is a key factor propelling the growth of the force sensor market.

The heightened production in the automotive industry is anticipated to contribute to the growth of the force sensor market. Automotive, encompassing the design, manufacturing, and marketing of motor vehicles, utilizes force sensors in various applications to measure and control forces, enhancing safety and efficiency in areas such as airbag deployment and brake systems. According to the European Automobile Manufacturers Association (ACEA), global motor vehicle production reached 85.4 million units in 2022, marking a 5.7% increase compared to 2021. Additionally, in August 2021, MarkLines reported an estimated 4.7% increase in U.S. new vehicle sales, reaching 1,291,881 units in July 2021 compared to July 2020. Thus, the increased production in the automotive sector is a driving force for the force sensor market.

A prominent trend gaining traction in the force sensor market is product innovation, with major companies in the sector actively pursuing innovations to maintain their market positions. For example, in September 2022, the Switzerland-based technology company Kistler Group introduced the SlimLine force sensor 9132CD, designed for the high-precision measurement of low forces. This new force transducer boasts enhanced sensitivity and features an exceptionally flexible, durable connection wire, making it ideal for precise measurements of low forces in applications such as semiconductors and 3C, where space constraints are a challenge.

Leading companies in the force sensor market are directing their efforts toward the development of smart sensors, including compact smart mini force sensors, to leverage digital transformation and maximize profitability. Smart mini force sensors are compact, digitally-enabled devices tailored for precise force measurements in fast processes. In July 2023, UK-based HBK launched the U9C and C9C smart mini force sensors equipped with IO-Link, specifically designed for swift processes in assembly and automotive manufacturing. These compact and robust sensors provide a standardized interface to PLCs with IO-Link, facilitating digitization at the user's preferred pace. Leveraging digital signal processing, these sensors offer advantages such as detecting technical limit breaches, enabling predictive maintenance, and resisting electromagnetic interferences. The sensors are compatible with existing setups, ensuring ease of integration and cost savings.

In May 2021, Qorvo Inc., a US-based semiconductor solutions supplier, acquired NextInput for an undisclosed amount. This strategic move by Qorvo Inc aims to broaden its technology portfolio and expedite the deployment of force-sensing solutions utilizing MEMS-based sensors. NextInput, the acquired US-based company, specializes in MEM-based force-sensing solutions applicable to consumer electronics, wearables, IoT, automotive, industrial, and medical applications.

Major companies operating in the force sensor market report are Siemens AG, Honeywell International Inc., ABB Ltd., Texas Instruments Incorporated, TE Connectivity Ltd., MinebeaMitsumi Inc., Alps Electric Co. Ltd., Omron Corporation, FANUC America Corporation, Sensata Technologies Inc., Mettler Toledo Inc., Spectris PLC, Synaptics Inc., Baumer Holding AG, Kistler Group, Vishay Precision Group Inc., Flintec Group AB, OMEGA Engineering Inc., Gefran Group, PCB Piezotronics Inc., ATI Industrial Automation Inc., HBM Inc., Dytran Instruments Inc., FUTEK Advanced Sensor Technology Inc., Tekscan Inc., HITEC Sensor Developments Inc., Taiwan Alpha Electronic Co Ltd., Sensel, Interlink Electronics Inc., Strainsert Co

North America was the largest region in the force sensor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the force sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the force sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The force sensor market consists of revenues earned by entities by providing force calibrations, design and manufacture of custom loading fixtures & adapters, sensor troubleshooting & repair, calibration of signal conditioning equipment, complimentary sensor evaluations, and custom solutions force sensors. The market value includes the value of related goods sold by the service provider or included within the service offering. The force sensor market also includes sales of optical force sensors, ultrasonic force sensors, pneumatic load cells, hydraulic load cells, piezoelectric crystal load cells, inductive load cells, capacitive load cells, and magneto strictive load cells. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Force Sensor Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on force sensor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for force sensor ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The force sensor market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Tension Force Sensors; Compression Force Sensors; Tension And Compression Force Sensors
• 2) By Technology: Strain Gauge; Load Cell; Force Sensitive Resistors; Other Technologies
• 3) By Operation: Analog; Digital
• 4) By End-use Industry: Healthcare; Industrial Manufacturing; Automotive; Aerospace And Defense; Consumer Electronics; Other End-use Industries
• Companies Mentioned: Siemens AG; Honeywell International Inc.; ABB Ltd.; Texas Instruments Incorporated; TE Connectivity Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.